MANDALAY 360XP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MANDALAY 360XP
Largest movements
- Receivables within one year -€59,032
down €59,032 (-88.1%), from €67,034 to €8,003
of which Other amounts receivable: -€60,619
- Tangible fixed assets -€23,134
down €23,134 (-9.1%), from €254,448 to €231,315
of which Furniture and vehicles: -€12,345
- Cash -€4,368
down €4,368 (-6.2%), from €69,956 to €65,588
mainly Net result for the year (-€88,403) and Debts after one year (-€10,901)
- Profit (loss) carried forward -€88,403
down €88,403, from €35,352 to -€53,051
- Contributions +€31,629
new in 2025: €31,629
- Reserves -€31,629
down €31,629 (-40.9%), from €77,387 to €45,758
of which Distributable reserves: -€31,629
- Debts after one year -€10,901
down €10,901 (-33.7%), from €32,301 to €21,400
- Other debts +€8,390
up €8,390 (+3.6%), from €234,515 to €242,906
- Gross operating margin -€74,720
down €74,720, from €23,669 to -€51,051
- Staff costs +€13,155
new in 2025: €13,155
- Financial income +€11,539
up €11,539 (+14,325%), from €81 to €11,619
- Depreciation -€2,860
down €2,860 (-9.8%), from €29,251 to €26,391
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €397,465 | €310,927 | -€86,538 | -21.8% |
| Fixed assets | 21/28 | €256,998 | €234,075 | -€22,924 | -8.9% |
| Tangible fixed assets | 22/27 | €254,448 | €231,315 | -€23,134 | -9.1% |
| Land and buildings | 22 | €173,229 | €163,083 | -€10,146 | -5.9% |
| Furniture and vehicles | 24 | €77,386 | €65,041 | -€12,345 | -16.0% |
| Other tangible fixed assets | 26 | €3,833 | €3,190 | -€643 | -16.8% |
| Financial fixed assets | 28 | €2,550 | €2,760 | +€210 | +8.2% |
| Current assets | 29/58 | €140,467 | €76,852 | -€63,615 | -45.3% |
| Amounts receivable within one year | 40/41 | €67,034 | €8,003 | -€59,032 | -88.1% |
| Trade receivables | 40 | €744 | €2,332 | +€1,588 | +213% |
| Other amounts receivable | 41 | €66,290 | €5,671 | -€60,619 | -91.4% |
| Cash at bank and in hand | 54/58 | €69,956 | €65,588 | -€4,368 | -6.2% |
| Deferred charges and accrued income | 490/1 | €3,477 | €3,261 | -€215 | -6.2% |
| Total equity and liabilities | 10/49 | €397,465 | €310,927 | -€86,538 | -21.8% |
| Equity | 10/15 | €112,738 | €24,335 | -€88,403 | -78.4% |
| Contributions | 10/11 | - | €31,629 | +€31,629 | |
| Contributions outside capital | 11 | - | €31,629 | +€31,629 | |
| Other | 1109/19 | - | €31,629 | +€31,629 | |
| Reserves | 13 | €77,387 | €45,758 | -€31,629 | -40.9% |
| Tax-exempt reserves | 132 | €1,137 | €1,137 | = | 0.0% |
| Distributable reserves | 133 | €76,250 | €44,621 | -€31,629 | -41.5% |
| Profit (loss) carried forward | 14 | €35,352 | -€53,051 | -€88,403 | |
| Amounts payable | 17/49 | €284,727 | €286,592 | +€1,865 | +0.7% |
| Amounts payable after more than one year | 17 | €32,301 | €21,400 | -€10,901 | -33.7% |
| Financial debts | 170/4 | €32,301 | €21,400 | -€10,901 | -33.7% |
| Amounts payable within one year | 42/48 | €252,223 | €264,971 | +€12,748 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €10,723 | €10,901 | +€178 | +1.7% |
| Trade debts | 44 | €4,984 | €7,172 | +€2,187 | +43.9% |
| Suppliers | 440/4 | €4,984 | €7,172 | +€2,187 | +43.9% |
| Taxes, remuneration and social security | 45 | €2,000 | €3,993 | +€1,993 | +99.6% |
| Taxes | 450/3 | €2,000 | €2,120 | +€120 | +6.0% |
| Remuneration and social security | 454/9 | - | €1,872 | +€1,872 | |
| Other amounts payable | 47/48 | €234,515 | €242,906 | +€8,390 | +3.6% |
| Accrued charges and deferred income | 492/3 | €203 | €221 | +€18 | +8.7% |
| Remuneration, social security and pensions | 62 | - | €13,155 | +€13,155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,251 | €26,391 | -€2,860 | -9.8% |
| Other operating charges | 640/8 | €387 | €74 | -€313 | -80.8% |
| Gross operating margin | 9900 | €23,669 | -€51,051 | -€74,720 | |
| Operating profit (loss) | 9901 | -€5,970 | -€90,672 | -€84,702 | -1,419% |
| Financial income | 75/76B | €81 | €11,619 | +€11,539 | +14,325% |
| Recurring financial income | 75 | €81 | €11,619 | +€11,539 | +14,325% |
| Financial charges | 65/66B | €9,471 | €9,111 | -€359 | -3.8% |
| Recurring financial charges | 65 | €9,471 | €9,111 | -€359 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,360 | -€88,164 | -€72,804 | -474% |
| Income taxes | 67/77 | €353 | €239 | -€114 | -32.3% |
| Profit (loss) for the period | 9904 | -€15,713 | -€88,403 | -€72,690 | -463% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,713 | -€88,403 | -€72,690 | -463% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.